3 reasons why Bitcoin is struggling to rally above $28.5K By Cointelegraph
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On Oct. 2, the price of (BTC) saw a 5.5% intraday increase to $28,600, but the largest cryptocurrency by market capitalization lost momentum as the highly anticipated launch of Ether (ETH) futures exchange-traded funds (ETFs) failed to generate significant trading volumes.
While the recent rally into the upper end of the current price range was likely encouraging to investors, recent comments from United States Federal Reserve representatives reiterated concerns about an impending economic downturn.
Bitcoin trading metrics show diminished activity for leverage longs
Investors’ expectation for a spot BTC ETF drops
Continue Reading on Coin Telegraph
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© Reuters
On Oct. 2, the price of (BTC) saw a 5.5% intraday increase to $28,600, but the largest cryptocurrency by market capitalization lost momentum as the highly anticipated launch of Ether (ETH) futures exchange-traded funds (ETFs) failed to generate significant trading volumes.
While the recent rally into the upper end of the current price range was likely encouraging to investors, recent comments from United States Federal Reserve representatives reiterated concerns about an impending economic downturn.
Bitcoin trading metrics show diminished activity for leverage longs
Investors’ expectation for a spot BTC ETF drops
Continue Reading on Coin Telegraph
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